Belfor launches $260 million term loan B at Libor plus 325-350 bps

By Sara Rosenberg

New York, March 17 - Belfor launched its $260 million term loan B on Thursday with price talk of Libor plus 325 basis points to 350 bps with a 1.5% Libor floor and an original issue discount of 99 to 991/2, according to a market source.

The term loan B includes 101 soft call protection for one year.

The company's $460 million credit facility also includes a $125 million revolver and a $75 million term loan A.

J.P. Morgan is the lead bank on the deal.

Proceeds will be used to refinance existing debt.

Belfor is a disaster recovery and property restoration company.

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